GE Capital, Commercial Distribution Finance (CDF) today announced that it has renewed its multi-year floor plan financing agreement with Cantrex, a buying group of more than 1,200 independent retailers in the furniture, household appliance, bedding, consumer electronics, photography, floor covering and home décor sectors in Canada.
"Cantrex and GE Capital share a commitment to meet the financial needs of our group members," said Jeannine Ghaleb, Cantrex’s vice president, corporate development and operations. "We are excited and pleased with our renewed relationship. Together, we expect to continue to provide innovative financing programs and superior service."
"CDF Canada is proud to extend this long-term relationship with the largest group of independent retailers in Canada," said Peter Ringler, president and CEO of GE Capital's CDF Canada business. "Our financing agreement will provide Cantrex dealers with access to smart capital, allowing them to stock the inventory they need and sell through their members across Canada."
For 50 years, Cantrex (cantrex.com) has worked to build a powerful group of independent retailers in the furniture, household appliance, bedding, consumer electronics, photography, floor covering and home décor sectors. Today, Cantrex is the largest group of its kind in Canada and the leader in its field, with more than 1,200 retail outlets across Canada, and offices in Montreal, Toronto and Vancouver. Since 2005, Cantrex has been wholly owned by retail giant Sears.
About GE Capital, Commercial Distribution Finance
GE Capital, Commercial Distribution Finance provided more than $30 billion in financing to 30,000 manufacturers and their distributors across the Americas in 2010. Programs include inventory and accounts receivable financing, asset-based lending, private label financing, collateral management, e-commerce services and related financial products. For more information, visit americas.gecapital.com or follow company news via Twitter (@GEInventoryFin).
GE Capital offers consumers and businesses around the globe an array of financial products and services. For more information, visit gecapital.com or follow company news via Twitter (@GECapital).
GE (ge.com) is an advanced technology, services and finance company taking on the world’s toughest challenges. Dedicated to innovation in energy, health, transportation and infrastructure, GE operates in more than 100 countries and employs about 300,000 people worldwide.
Mark Chesney - GE Capital, Commercial Distribution Finance
P: +1 847 747 6518 / M: +1 847 544 9362 / E: Mark.Chesney1[.]ge.com.